F5’s 2024 State of Application Strategy Report: API Security reveals gaps in API protection and urgent need for comprehensive security measures
F5 findings of its 2024 State of Application Strategy Report: API Security, reveal concerning truths about the current state of API security across industries. The report highlights significant gaps in API protection, exposing them to potential threats that could jeopardize enterprise security and operations. These challenges are magnified by the rapid proliferation of APIs in today’s digital landscape.
The survey found that less than 70% of customer-facing APIs are secured using HTTPS (Hypertext Transfer Protocol Secure), leaving nearly one-third of these APIs completely unprotected. This is a stark contrast to the 90% of web pages that are now accessed via HTTPS, following the push for secure web communications over the past decade.
Pratik Shah, Managing Director – India & SAARC at F5, emphasized the need for API security stating that, “APIs are not just technical assets; they are the lifeblood of modern business ecosystems. As the digital world rapidly evolves, our 2024 report uncovers a critical truth: the security gaps we face today are no longer just operational challenges—they are strategic risks. Businesses that fail to address API vulnerabilities are not simply risking data breaches; they are jeopardizing their future. In a world shaped by AI and multicloud, the key to long-term resilience lies in how we protect these vital connections. At F5, we’re not just solving for today’s security gaps—we’re empowering businesses to innovate with confidence, secure in the knowledge that their digital foundations are built to withstand the threats of tomorrow.”
Pratik Shah, Managing Director – India & SAARC at F5 “APIs are not just technical assets; they are the lifeblood of modern business ecosystems.
Key Findings of the Report Include:
- Rapid growth and diverse environments: The average organization now manages 421 different APIs, with most hosted in public cloud environments. Despite this growth, a significant number of APIs—particularly those that are customer-facing—remain unprotected.
- Evolving API uses and security needs: As APIs increasingly connect to AI services like OpenAI, the security model must adapt to cover both inbound and outbound API traffic. Current practices largely focus on inbound traffic, leaving outbound API calls vulnerable.
- Fragmented responsibility for API security: The report reveals a divided responsibility for API security within organizations, with 53% managing it under application security and 31% through API management and integration platforms. This division can lead to gaps in coverage and inconsistent security practices.
- High demand for programmable security solutions: Respondents ranked programmability as the most valuable API security capability, underscoring the need for real-time inspection and response to API traffic and threats.
“APIs are becoming the backbone of digital transformation efforts, connecting critical services and applications across organizations,” said Lori MacVittie, Distinguished Engineer at F5. “However, as our report indicates, many organizations are not keeping pace with the security requirements needed to protect these valuable assets, especially in the context of emerging AI-driven threats.”
Addressing the Gaps in API Security
To address these security gaps, the report recommends organizations adopt comprehensive security solutions that can cover the entire API lifecycle, from design through deployment. By integrating API security into both development and operational phases, organizations can better protect their digital assets against a growing array of threats.
“APIs are integral to the AI era, but they must be secured to ensure that AI and digital services can operate safely and effectively,” added MacVittie. “This report is a call to action for organizations to re-evaluate their API security strategies and take the necessary steps to protect their data and services.”
The full 2024 State of Application Strategy Report: API Security is available for download.